Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Sanil Electric Co., Ltd. (062040.KS)

Company Dividend Discount ModelIndustry: Electrical Equipment & PartsSector: Industrials

Valuation Snapshot

Stable Growth$85,104.10 - $200,402.62$125,289.67
Multi-Stage$350,184.30 - $387,046.29$368,245.04
Blended Fair Value$246,767.35
Current Price$110,100.00
Upside124.13%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019201820172016
DPS0.00%0.00%148.4513.9613.960.000.000.000.000.000.000.00
YoY Growth--963.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.29%0.04%0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)132,956.55
(-) Cash Dividends Paid (M)12,761.47
(=) Cash Retained (M)120,195.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26,591.3116,619.579,971.74
Cash Retained (M)120,195.08120,195.08120,195.08
(-) Cash Required (M)-26,591.31-16,619.57-9,971.74
(=) Excess Retained (M)93,603.77103,575.51110,223.34
(/) Shares Outstanding (M)30.5630.5630.56
(=) Excess Retained per Share3,063.253,389.583,607.14
LTM Dividend per Share417.63417.63417.63
(+) Excess Retained per Share3,063.253,389.583,607.14
(=) Adjusted Dividend3,480.883,807.214,024.77
WACC / Discount Rate2.01%2.01%2.01%
Growth Rate-2.00%-1.00%0.00%
Fair Value$85,104.10$125,289.67$200,402.62
Upside / Downside-22.70%13.80%82.02%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)132,956.55131,626.98130,310.71129,007.61127,717.53126,440.36130,233.57
Payout Ratio9.60%25.68%41.76%57.84%73.92%90.00%92.50%
Projected Dividends (M)12,761.4733,799.9454,416.3774,617.0894,408.35113,796.32120,466.05

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate2.01%2.01%2.01%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)32,799.7933,134.4933,469.18
Year 2 PV (M)51,243.6452,294.7653,356.56
Year 3 PV (M)68,187.3670,296.1072,447.87
Year 4 PV (M)83,720.3887,190.2090,766.77
Year 5 PV (M)97,927.40103,026.70108,336.26
PV of Terminal Value (M)10,366,703.0810,906,521.3711,468,596.72
Equity Value (M)10,700,581.6511,252,463.6111,826,973.35
Shares Outstanding (M)30.5630.5630.56
Fair Value$350,184.30$368,245.04$387,046.29
Upside / Downside218.06%234.46%251.54%

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